Douglas Emmett (NYSE:DEI) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of Douglas Emmett (NYSE:DEI) from a hold rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

A number of other brokerages have also commented on DEI. Weiss Ratings lowered Douglas Emmett from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. boosted their target price on Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, September 9th. Scotiabank decreased their target price on Douglas Emmett from $13.00 to $12.00 and set a “sector perform” rating for the company in a research report on Thursday, September 17th. Cantor Fitzgerald increased their price target on Douglas Emmett from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Finally, Piper Sandler lowered their price target on Douglas Emmett from $14.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Douglas Emmett has a consensus rating of “Hold” and a consensus price target of $13.14.

Douglas Emmett Trading Down 2.4%

Shares of NYSE:DEI opened at $10.18 on Friday. The stock has a market capitalization of $1.70 billion, a PE ratio of -78.27 and a beta of 1.18. Douglas Emmett has a 1 year low of $9.04 and a 1 year high of $12.97. The firm has a fifty day moving average price of $10.21 and a 200 day moving average price of $10.86. The company has a current ratio of 2.01, a quick ratio of 2.60 and a debt-to-equity ratio of 1.64.

Douglas Emmett (NYSE:DEI) last posted its earnings results on Tuesday, November 3rd. The real estate investment trust reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.38). Douglas Emmett had a negative return on equity of 0.60% and a negative net margin of 2.04%. The business had revenue of $260.86 million for the quarter, compared to analyst estimates of $256.76 million. During the same period in the previous year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts expect that Douglas Emmett will post 1.41 EPS for the current fiscal year.

Douglas Emmett Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend was Wednesday, September 30th. Douglas Emmett’s payout ratio is currently -584.62%.

Institutional Trading of Douglas Emmett

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DEI. Aberdeen Group plc boosted its position in shares of Douglas Emmett by 6.1% in the third quarter. Aberdeen Group plc now owns 69,896 shares of the real estate investment trust’s stock valued at $670,000 after acquiring an additional 4,003 shares during the period. Maryland State Retirement & Pension System grew its stake in shares of Douglas Emmett by 54.5% in the third quarter. Maryland State Retirement & Pension System now owns 37,845 shares of the real estate investment trust’s stock worth $363,000 after acquiring an additional 13,348 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Douglas Emmett by 11.2% in the third quarter. Illinois Municipal Retirement Fund now owns 92,554 shares of the real estate investment trust’s stock worth $887,000 after acquiring an additional 9,355 shares during the last quarter. AlphaCore Capital LLC bought a new position in Douglas Emmett during the third quarter worth $103,000. Finally, Fulcrum Asset Management LLP increased its position in Douglas Emmett by 5,480.6% during the third quarter. Fulcrum Asset Management LLP now owns 3,460 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 3,398 shares during the period. Institutional investors and hedge funds own 97.37% of the company’s stock.

Douglas Emmett Company Profile

Douglas Emmett, Inc (NYSE: DEI) is a self-administered and self-managed real estate investment trust (REIT) that owns, acquires, develops, redevelops and manages office and multifamily apartment properties. The company focuses on high-quality assets in supply-constrained markets with strong employment and housing demand.

Douglas Emmett’s portfolio is concentrated in Southern California and Honolulu. Its office properties are primarily located in prominent Los Angeles submarkets, including Century City, Brentwood, Westwood, Santa Monica, Warner Center and the Wilshire Corridor.